Intuit Inc. (INTU) EVP Sasan K. Goodarzi Sells 16,207 Shares of Stock
Intuit Inc. (NASDAQ:INTU) EVP Sasan K. Goodarzi sold 16,207 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.41, for a total transaction of $2,291,831.87. Following the completion of the transaction, the executive vice president now owns 5,785 shares in the company, valued at approximately $818,056.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Intuit Inc. (NASDAQ:INTU) traded down 0.37% during midday trading on Thursday, reaching $141.53. 195,749 shares of the company’s stock traded hands. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81. The stock’s 50 day moving average price is $137.93 and its 200-day moving average price is $130.90. The stock has a market cap of $36.09 billion, a PE ratio of 38.05 and a beta of 1.15.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The firm had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $808.82 million. During the same period in the previous year, the firm earned $0.08 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post $4.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 6th. This is a boost from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a yield of 1.10%. Intuit’s payout ratio is currently 36.56%.
A number of brokerages have recently issued reports on INTU. First Analysis upgraded shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price target on the stock in a research report on Wednesday, August 23rd. Moffett Nathanson began coverage on shares of Intuit in a research report on Thursday, September 7th. They issued a “buy” rating and a $150.00 price target on the stock. Oppenheimer Holdings, Inc. boosted their price target on shares of Intuit from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. CIBC boosted their price target on shares of Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, May 26th. Finally, BidaskClub downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $140.24.
Several institutional investors and hedge funds have recently modified their holdings of the company. Guardian Life Insurance Co. of America raised its holdings in shares of Intuit by 0.5% during the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after acquiring an additional 5 shares in the last quarter. FineMark National Bank & Trust increased its position in shares of Intuit by 0.4% during the 2nd quarter. FineMark National Bank & Trust now owns 2,716 shares of the software maker’s stock valued at $361,000 after purchasing an additional 11 shares during the last quarter. Cue Financial Group Inc. increased its position in shares of Intuit by 0.3% during the 2nd quarter. Cue Financial Group Inc. now owns 7,004 shares of the software maker’s stock valued at $930,000 after purchasing an additional 20 shares during the last quarter. Harbour Capital Advisors LLC increased its position in shares of Intuit by 0.6% during the 1st quarter. Harbour Capital Advisors LLC now owns 4,061 shares of the software maker’s stock valued at $471,000 after purchasing an additional 25 shares during the last quarter. Finally, Wetherby Asset Management Inc. increased its position in shares of Intuit by 0.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 7,040 shares of the software maker’s stock valued at $935,000 after purchasing an additional 27 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors and hedge funds.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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